Review Knit Finance

 Review Knit Finance - Unlocking Full Potential of DeFi

From the end of July 2020, the coins in the DeFi group have brought huge profits for investors. Since then, DeFi has also received a great deal of interest from the crypto investor community. The crypto market changes very quickly, even the DeFi trend has a shift in cash flow. If you look closely, each blockchain project tries to build their own DeFi ecosystem. And based on the amount of DeFi projects built on each blockchain, we will know how strong that blockchain is. However, let's look at the smaller underlying blockchains. Here I want to talk about the growth potential. Maybe the DeFi ecosystem built on them is still small, but with DeFi's growth, if any blockchain ecosystem captures the developer association, it is a potential investment. As I said at first, DeFi is not only a short-term trend in crypto but also an inevitable development of the market, serving the needs of the participants. Anything that is decentralized should be available to anyone and everyone. But DeFi today mainly depends on ERC-20 tokens. The ERC-20 standard has proven to be suitable for decentralized lending, borrowing and productivity farming, etc. However, this excludes the participation of other assets of independent blockchains. These assets and their tools of support pose a major barrier to joining DeFi. Knit finance solved this problem in one failure.

About

Knit finance unlocks the entire crypto ecosystem to DeFi using cross-chain synthetics and bridges. Existing DeFi protocols determine which tokens and projects get to participate. Knit finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, Knit finance opens up an entire world of new possibilities. Any coin or token on any blockchain could be converted to an equivalent synthetic token of the ERC-20 format. The original token and the synthesized token will represent each other in a 1:1 ratio. On the contrary, with KNIT, ERC-20 tokens could also be synthesized on other blockchains in a 1:1 ratio. In addition to cryptocurrencies, real-world assets such as fiat, gold, and stocks can be synthesized using Knit finance.

Features

For Every Coin: For every coin hodler, we provide an option to trade and leverage their coins in the DeFi space. Coins (E.g.: LTC) that were previously out of DeFi’s scope will now have complete access to all of DeFi’s features.

Flexibility of ERC-20 standard: ERC-20 standard is known to be flexible, possessing the highest transferability and accessibility with the world’s second-largest blockchain network. Every coin now has the opportunity to leverage Ethereum’s flexibility.

Global Liquidity Pool: A global liquidity pool is being opened to Ethereum and vice versa.

Read-World Assets: Stocks, Gold, and Fiat can be synthesized to trade on Decentralized Exchanges, essentially decentralizing centralized assets, giving more power to the trader.

Community-Driven: 100% governance of these tokens will be through the community.

DAPPs: DAPPs can now access tokens on other blockchains using only their Ethereum nodes via KNIT’s synthetic tokens. They can also receive payments in these tokens.

Token Economics and token uses

Staking: Knit.Finance stands at the forefront of interoperability by enabling altcoins to be ported to Ethereum DeFi within a single UI.

Pay for fees: Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

Protocol governance: Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

FOR MORE INFORMATION

Website: https://knit.finance/

Medium: https://knitfinance.medium.com/

Telegram: https://t.me/knitfinance

Twitter: https://twitter.com/KnitFinance

Facebook: https://www.facebook.com/KnitFinance-106586011273309

Linkedin: https://www.linkedin.com/company/knitfinance

Author

Bitcointalk Username: Gambangcity

Telegram Username: @Gambangcity

Bitcointalk Profile Url: https://bitcointalk.org/index.php?action=profile;u=1855982

ERC20 Wallet: 0xbd4e6B6E19c55D117badfa5C218Ae03263df6072